Argentina’s beef exports up 8% year-to-date
Sep, 27, 2024 Posted by Gabriel MalheirosWeek 202438
Argentina’s exports of chilled and frozen beef reached 500,500 tonnes year-to-date from January to August 2024, an increase of 8.2% compared to the same period in 2023, according to data from the ABC Consortium, which groups together Argentina’s largest exporters.
In terms of revenue, shipments in the first eight months of the year reached US$1.91 billion, a decrease of 1.2% compared to last year.
The lower revenue was due to the decline in the price of exported beef, which in August 2024 reached an average value of US$3,797/ton, 5.9% below July and 1.5% lower than in August 2023.
“In recent years (since May 2022), there has been a persistent downward trend in prices in the main destinations,” explained Mario Ravettino, president of the ABC Consortium. According to him, the nearly US$3,800/ton obtained in August 2024 is about US$2,500/ton below the peak values recorded in April 2022.
The chart below provides a brief overview of Argentina’s beef exports in containers between January 2021 and July 2024. The information was derived from DataLiner, a maritime intelligence service by Datamar.
Beef Exports from Argentina | Jan 2021 – Jul 2024 | TEU
Source: DataLiner (click here to request a demo)
August 2024 Performance
In the past month, shipments of Argentine chilled and frozen beef totaled 69,800 tons, with revenue of US$265 million, according to the ABC Consortium. This represents an increase of 23.1% in volume and 15.9% in revenue compared to the results of July 2024. Compared to August 2023, last month’s sales increased by 4.3% in volume, while revenue was 2.7% higher.
Ravettino highlights that in the last 12 months (September 2023 to August 2024), total chilled and frozen beef exports reached 721,200 tons, with revenue close to US$2.755 billion.
High Dependence on China
Argentine beef exports continue to be highly dependent on China: 72.3% of total shipments in August 2024 and 74.4% of the first eight months of 2024 went to the Asian giant. The average price of boneless beef sales to China in August 2024 was around US$3,200/ton, marking “a clear downward trajectory from the peak of US$5,900/ton achieved in May 2022,” said Ravettino.
Other Clients
The ABC Consortium highlights the recovery of shipments to Chile. In August 2024, shipments of chilled boneless beef to the country reached 2,572 tons, an increase of 17.6% over July 2024 and 74.1% compared to the 1,500 tons sold in the same month of 2023. “It is the largest volume in a single month sent to Chile since February 2022,” the ABC Consortium highlights.
Shipments of chilled boneless beef to Europe grew 27.2% last month compared to July 2024, to 4,500 tons. “This is mainly due to the start of the 2024/25 Hilton quota cycle, which was accompanied by the resumption of the slaughter of steers under the kosher rite, in addition to shipments corresponding to the window of the fourth quarter of quota 481,” reports the Consortium. However, compared to August 2023, shipments of Argentine beef to the European market declined slightly by 0.5% in volume.
Kosher Certified Beef
Shipments of Kosher-certified beef to Israel remained at the same high levels as in July 2024, reaching 1,700 tons. Sales of chilled meat to the United States remained stable in August 2024, while shipments of frozen beef declined. Over the first eight months of 2024, beef exports to the US reached 23,900 tons, 44.6% above the volume recorded in the first eight months of 2023.
Mexico, the Main Newcomer
With the opening of the Mexican market in the second quarter of 2023, volumes grew to reach 435 tons of chilled beef and 586 tons of frozen beef in August 2024, at an average value of nearly US$5,000 and US$4,000 per ton, respectively. In the first eight months of 2023, 5,500 tons, worth US$28 million, were shipped to the Mexican market.
Other Beef Cuts
Argentina’s exports of offal and beef-based preparations reached 10,800 tons in August 2024, with revenue of US$18.4 million. The average price was slightly above US$1,700/ton, and tongue shipments reached peaks above US$3,300. In the first eight months of the year, sales of offal and beef preparations rose to 77,800 tons, with revenue of US$124.3 million.
Source: Portal DBO
Click here to read the original text: https://portaldbo.com.br/exportacoes-de-carne-bovina-da-argentina-sobem-8-no-acumulado-do-ano/
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